Insurance M&A Slows in 1H 2019 Following a Busy 1H 2018
August 26, 2019
Deal Flow Remains Strong and Should Continue; Focus on Core Capabilities is Driver
HARTFORD, CT – August 26, 2019 - Leading global investment management firm Conning has issued an Insurance Insight from its Insurance Research group reviewing merger and acquisition (M&A) activity among insurers during the first six months of 2019. The report notes that the pace of M&A is down from the same period in 2018 but that the firm expects deals will continue through the remainder of the year.
Conning’s Insurance Insight “Insurance M&A in the First Half of 2019: Taking a Breather” provides a detailed review of the more significant transactions across industry sectors from January through June. The report offers insight beyond the headlines as well as thoughts on potential next steps.
“The driving force behind the activity is companies’ focus on core capabilities,” said Jerry Theodorou, report author and a vice president in Conning’s Insurance Research group. “The companies are working to build on their strengths and shed subscale or noncore capabilities.”
While the first half of 2019 did not witness the same number of large, transformational deals involving insurers as during the first half of 2018, that is only a measure of scale, not of interest, Theodorou added. He expects the theme of focusing on core strengths to drive more activity in the second half of the year.
Conning (www.conning.com) is a leading investment management firm with approximately $145 billion in global assets under management as of June 30, 2019.* With a long history of serving the insurance industry, Conning supports institutional investors, including pension plans, with investment solutions and asset management offerings, risk modeling software, and industry research. Founded in 1912, Conning has investment centers in Asia, Europe and North America.
*As of June 30, 2019, represents the combined global assets under management for the affiliated firms under Conning Holdings Limited, Cathay Securities Investment Trust Co., Ltd. (“SITE”) and Global Evolution Fondsmæglerselskab A/S and its group of companies (the “Global Evolution Companies”). The Global Evolution Companies are affiliates of Conning. SITE reports internally into Conning Asia Pacific Limited, but is a separate legal entity under Cathay Financial Holding Co., Ltd. which is the ultimate controlling parent of all Conning controlled entities
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